Raymond James’ Take on This Canadian Energy Stock

In a report released today, Jeremy Mccrea from Raymond James maintained a Buy rating on Birchcliff Energy (BIREFResearch Report), with a price target of C$10.00. The company’s shares closed last Thursday at $5.07.

According to, Mccrea is a 5-star analyst with an average return of 15.7% and a 53.0% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Crescent Point Energy.

Currently, the analyst consensus on Birchcliff Energy is a Strong Buy with an average price target of $7.29, implying a 34.3% upside from current levels. In a report issued on February 4, National Bank also maintained a Buy rating on the stock with a C$11.00 price target.

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The company has a one-year high of $6.25 and a one-year low of $2.00. Currently, Birchcliff Energy has an average volume of 69.7K.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIREF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Birchcliff Energy Ltd. is an intermediate oil and natural gas company, which engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids (NGLs). Its properties include Peace River Arch, and the Montney/Doig Resource Play. The company was founded by Myles R. Bosman, Gordon W. Cameron, Bruno P. Geremia, Laurence A. Shaw, Werner A. Siemens, James W. Surbey, and A. Jeffery Tonken on July 6, 2004 and is headquartered in Calgary, Canada.

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